CSR is contribution towards inclusive societies, says FM

New Delhi, Oct 29: Union Finance Minister Nirmala Sitharaman said on Tuesday that CSR is not merely contribution of funds, it is the corporate contribution towards inclusive societies which matters.

Addressing at the event to present first National Corporate Social Responsibility Awards here, Ms Sitharaman emphasised that companies should strive for development of North Eastern region of the country and assured the industry that while administering the law, the core spirit of CSR will be protected.

The Ministry of Corporate Affairs would encourage, and not force, companies to come forward and embrace CSR, she added. Ms Sitharaman released a coffee table book on CSR activities by companies in India. The first copy of the coffee table book was presented by her to President Ram Nath Kovind.

President Kovind conferred national awards to winning companies in two categories namely, 'Corporate Award for Excellence in CSR' and 'Contribution of CSR in Challenging Circumstances'.

In his address, Mr Kovind observed that through National CSR Awards companies are being recognised for their contribution to society. "Such contribution through CSR is a true manifestation of the trusteeship philosophy of Father of Nation, Mahatma Gandhi. He also noted that the award assume greater significance since these are being presented in the 150th birth anniversary of Mahatma Gandhi," he said. (UNI)